AmerisourceBergen Corp. (ABC) Announces Quarterly Dividend of $0.37
AmerisourceBergen Corp. (NYSE:ABC) announced a quarterly dividend on Thursday, November 10th. Investors of record on Monday, November 21st will be given a dividend of 0.365 per share on Monday, December 5th. This represents a $1.46 annualized dividend and a dividend yield of 1.83%. This is a boost from AmerisourceBergen Corp.’s previous quarterly dividend of $0.34.
Shares of AmerisourceBergen Corp. (NYSE:ABC) opened at 79.59 on Friday. The company has a 50 day moving average price of $78.44 and a 200 day moving average price of $81.30. The stock has a market cap of $17.52 billion, a P/E ratio of 12.59 and a beta of 0.80. AmerisourceBergen Corp. has a 1-year low of $68.38 and a 1-year high of $105.81.
AmerisourceBergen Corp. (NYSE:ABC) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.07. AmerisourceBergen Corp. had a return on equity of 68.70% and a net margin of 0.97%. The company earned $37.60 billion during the quarter, compared to analyst estimates of $37.97 billion. During the same quarter last year, the business posted $1.21 earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. On average, equities analysts anticipate that AmerisourceBergen Corp. will post $5.75 EPS for the current year.
In other news, insider John G. Chou sold 63,750 shares of the business’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $85.70, for a total transaction of $5,463,375.00. Following the sale, the insider now directly owns 104,043 shares of the company’s stock, valued at $8,916,485.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kathy H. Gaddes sold 681 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $88.15, for a total transaction of $60,030.15. Following the sale, the insider now directly owns 1,022 shares in the company, valued at $90,089.30. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Fiera Capital Corp bought a new stake in shares of AmerisourceBergen Corp. during the second quarter worth $429,000. Point72 Asset Management L.P. bought a new stake in shares of AmerisourceBergen Corp. during the second quarter worth $30,903,000. AHL Partners LLP raised its stake in AmerisourceBergen Corp. by 420.8% in the second quarter. AHL Partners LLP now owns 68,369 shares of the company’s stock valued at $5,423,000 after buying an additional 55,241 shares during the last quarter. Capital World Investors acquired a new stake in AmerisourceBergen Corp. during the second quarter valued at approximately $10,312,000. Finally, Carlson Capital L P acquired a new stake in AmerisourceBergen Corp. during the second quarter valued at approximately $15,893,000. 66.81% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have issued reports on ABC. Mizuho upgraded AmerisourceBergen Corp. from a “neutral” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Wednesday. Morgan Stanley upgraded AmerisourceBergen Corp. from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $84.00 to $86.00 in a research report on Thursday. Deutsche Bank AG boosted their target price on AmerisourceBergen Corp. from $83.00 to $96.00 and gave the company a “hold” rating in a research report on Wednesday, August 3rd. Leerink Swann restated a “buy” rating on shares of AmerisourceBergen Corp. in a research report on Wednesday, August 3rd. Finally, Barclays PLC boosted their target price on AmerisourceBergen Corp. from $83.00 to $89.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $94.11.
AmerisourceBergen Corp. Company Profile
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company operates through two segments: Pharmaceutical Distribution and Other. The Company also provides data and other services to its manufacturing customers. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers.
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